Brazil's 2017 primary budget deficit smaller than target

Reuters Staff

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BRASILIA, Jan 31 (Reuters) - Brazil ended 2017 with a primary budget deficit for the fourth year in a row, but easily beat its annual target, the central bank said on Wednesday.

Brazil’s public sector, comprised of the central government, regional governments and state-owned firms, posted a budget deficit of 110.583 billion reais ($35.1 billion) in 2017 before interest rate payments. That was nearly 30 percent smaller than the year before and below the official deficit target of 163.1 billion reais before interest payments.